Cox Communications, Inc., a wholly owned subsidiary of Cox Enterprises, Inc., has priced itscash tender offers to purchase its outstanding 8.375% notes due 2039, 6.950% notes due 2038, 6.450% notes due 2036, 6.950% notes due 2028 and 6.800% notes due 2028, subject to certain previously announced caps (such offers, the “Waterfall Offers”), the company said.
The terms and conditions of the Waterfall Offers, including such caps, are set forth in the related Offer to Purchase dated July 24, 2017 (as amended by Cox´s press release dated August 7, 2017 announcing certain amendments thereto, the “Waterfall Offer to Purchase”) and the related Letter of Transmittal dated July 24, 2017 (as amended by Cox´s press release dated August 7, 2017 announcing certain amendments thereto, the “Waterfall Letter of Transmittal”). Capitalized terms used but not defined herein have the meanings ascribed to them in the Waterfall Offer to Purchase.
The Waterfall Offers will expire at 11:59 p.m., New York City time, on August 18, 2017, unless extended or earlier terminated. Cox will purchase any remaining Waterfall notes that have been validly tendered and not validly withdrawn after the Waterfall Early Tender Deadline and at or prior to the Waterfall Expiration Date, subject to the Aggregate Maximum Tender Cap and the Maximum Tender SubCaps, the application of the Acceptance Priority Levels and all conditions to the Waterfall Offers having been satisfied or waived by Cox, on the Waterfall Final Settlement Date.
The Waterfall Final Settlement Date is expected to occur promptly following the Waterfall Expiration Date and is expected to be on August 21, 2017 (the “Waterfall Final Settlement Date”), unless extended by Cox. No tenders of Waterfall notes submitted after the Waterfall Expiration Date will be valid.
J.P. Morgan Securities LLC, RBC Capital Markets, LLC and Wells Fargo Securities, LLC are acting as Dealer Managers (collectively, the “Dealer Managers”) and D.F. King & Co., Inc. is acting as the Tender Agent and Information Agent for the Waterfall Offers.
Cox is a broadband communications and entertainment company, providing advanced digital video, Internet, telephone and home security and automation services over its own nationwide IP network.